Polish fintech Wealthon raises €7.4M from funds and debt financing
Wealthon, a Warsaw-based lending firm, has raised around €7.4 million (PLN 32 million) for the development of financial services for entrepreneurs. The funds came from the 4growth fund and NCBR Investment Fund, with €4.6 million as part of debt financing.
- Founded in 2018 by Aleksander Majchrzak and Aleksander Przetakiewicz., Wealthon is a lending firm that offers installment loans, bridging loans, and POSCASH, financing for trading on a payment terminal, to individuals and businesses. The lending processes are completely automated and devoid of formalities, with flexible repayment because the installments are adjusted to the company’s capabilities.
- In addition to POSCASH financing, the company also creates other tools for companies like WALLET, a mobile wallet for financial management, and POS, a restaurant management program and a sales assistant in one.
“Wealthon operates on a vast market of business activities that too often have limited access to financing, while at the same time having great needs in this area. The innovative solution and securing debt repayment on inflows from terminals allowed the company to create a high-quality portfolio, and the investment from CVI is proof of this. Combined with an experienced, committed team, Wealthon has become an attractive investment for us,”Marcin Jaszczuk, managing partner of 4growth VC, said.
- The 4growth VC fund, specializing in financing companies from the fintech and insurtech sectors, is one of the main investors this round. NCBR Investment Fund (NIF), specializing in investments in small and medium-sized enterprises, also co-invested in Wealthon.
- Apart from the funds, the company managed to secure about €4.6 million (PLN 20 million) as part of its debt financing from funds managed by CVI Dom Maklerski.
- Wealthon will use the funds for further product development and strengthening market positions. The company’s long-term strategy assumes foreign expansion.